Insurance, takaful sector earnings set for recovery

RAM Rating Services Bhd co-head of financial institution ratings Sophia Lee

PETALING JAYA: The local insurance and takaful sector earnings are expected to stage some recovery this year amid volatility in the global financial markets, according to RAM Rating Services Bhd (RAM Ratings).

Its co-head of financial institution ratings Sophia Lee said while the sector’s profit performance last year was marred by outsized investment-related losses and higher claims and payouts of policy benefits, she anticipates some earnings recovery this year even as financial markets could remain volatile given global uncertainties.